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Entegris, Inc. (ENTG)

NEUTRAL
TechnologySemiconductor Equipment & MaterialsUnited States

Fundamental

65

Precio

$138.87

Capitalización Bursátil

$21.95B

Parte 1 · Cuánto vale la empresa

Resumen

Entegris makes the specialty materials and filtration systems that semiconductor fabs use to keep chip-manufacturing chemicals, gases and liquids free of contamination. Chipmakers cannot shrink transistors further without ever-purer inputs, and Entegris supplies the filters, membranes, slurries and gases that make that possible. It sells almost exclusively to the semiconductor industry, concentrated among a small number of very large chipmakers such as TSMC and Samsung.

Cómo genera ingresos

Most revenue comes from Advanced Purity Solutions — filtration, purification and contamination-control products consumed continuously as fabs run — and the rest from Materials Solutions, the deposition materials, slurries, gases and etch chemicals used directly in chip processing. Because its products are qualified into a customer's manufacturing process, switching suppliers once a material is approved requires requalifying the whole line, which discourages change and supports steady purchases.

Ingresos por segmento

Advanced Purity Solutions56.1%

Filtration, purification and contamination-control products and systems that keep the chemicals and gases used in chip fabrication free of particles.

Materials Solutions43.9%

Deposition materials, CMP slurries and pads, specialty gases and etch/clean chemicals consumed directly in the chip-manufacturing process.

Ventaja competitiva

Costes de cambio · Estrecha

Entegris's materials and filters are qualified into a customer's manufacturing line through a lengthy validation process; once approved, a chipmaker is reluctant to requalify an alternative supplier for the risk and cost involved. Competitors exist for most product lines and price and performance still matter, so the advantage is narrow rather than wide.

Qué impulsa la demanda

Cíclico

Demand tracks the semiconductor industry's capital spending and wafer-fabrication volumes, which move in multi-year up-and-down cycles driven by chip demand and a handful of customers' capacity decisions. A slowdown in fab utilization or a pause in leading-edge capacity additions reduces Entegris's volumes with a lag of a quarter or two.

Riesgos clave

  • Customer concentration — A significant portion of sales is concentrated on a limited number of key customers, and net sales and profitability may materially decline if the company lost one or more of them.
  • Semiconductor capital-spending cycles — Revenue depends on chipmakers' capacity and technology investment cycles, which have historically swung between expansion and pullback, dragging Entegris's volumes and pricing with them.
  • Geographic customer concentration — A large share of revenue comes from customers in Taiwan, China and South Korea, so trade restrictions, geopolitical tension or disruption in any of those regions can directly affect sales.
  • Qualification and technology-transition risk — New materials and filters must be requalified by customers each time chip technology advances; failing to keep pace with a customer's next process node could lose the business at that qualification point.

Concentración de clientes

Los principales clientes representan el 50% de los ingresos

Entegris discloses that its ten largest customers accounted for about 50% of net sales in 2025, with TSMC alone at roughly 16%, so a slowdown at any of a handful of very large chipmakers has an outsized effect on results.

Los argumentos a favor

Buyers argue that Entegris's materials are embedded in customers' qualified production lines, that advanced chipmaking requires ever-purer inputs only a few suppliers can deliver, and that this positions the company to benefit from the industry's long-term move to smaller, more demanding process nodes.

Los argumentos en contra

Sellers fear that revenue concentrated on a handful of very large chipmakers leaves Entegris exposed to any one customer's capacity decisions, and that a downturn in the notoriously cyclical semiconductor capital-spending cycle would hit volumes hard regardless of how entrenched the products are.

Datos por segmento del ejercicio fiscal 2025Fuentes: Entegris Reports Results for Fourth Quarter of 2025

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Balance y Liquidez

Ingresos

$3.33B

Últimos 12 meses (hasta 27/6/2026)

Beneficio Neto

$306M

Últimos 12 meses (hasta 27/6/2026)

Flujo de Caja Libre

$396M

Patrimonio Neto Total

$3.95B

Pasivo Total

$4.40B

Ratio de Liquidez

3.05

Cobertura de Intereses

2.75

Deuda/EBITDA

5.38

Beneficio Por Acción

Ingresos y Beneficio Neto

Flujo de Caja Libre

Desglose de Ingresos

Estado histórico

Márgenes en el tiempo

La deuda en el tiempo

Cuánto pesa la deuda

Cuadro de crecimiento

Crecimiento — Ingresos

Estimación de Valor Justo

Sobrevalorado

Valor Justo

$81.23

Precio Actual

$138.87

Margen de Seguridad

-71.0%

Rango de Valor Justo

$52.80 - $109.66

Métodos de Estimación

Analyst Target:$173.36
DCF:$26.22
PE-based:$55.33
Graham Growth:$14.96
EPV:$21.68
Consenso de Analistas:Comprar (12B / 4H / 2S)
Última Sorpresa de Resultados:+11.16%

Métricas de Valoración

Ratio P/E

69.13

ROE

6.0%

Ratio P/B

5.08

P/FCF

36.73

Margen Bruto

45.5%

ROIC

5.4%

Radar de Rentabilidad

Value Creation (Economic Moat)

ROIC

5.4%

WACC

11.4%

ROIC − WACC

-6.0 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Criterios de Análisis Fundamental

Superado (19)

  • EPS shows upward trend
  • Price CAGR 23.16%
  • ROIC 5.4%
  • Gross Margin 45.5%
  • Debt/Equity ratio
  • Operating Margin 16.0%
  • Positive Free Cash Flow
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE 7.6%
  • Revenue Growth 5Y 11.4%
  • Analyst Consensus 67% Buy
  • Earnings Surprise avg 6.2%
  • Earnings Quality (OCF/NI) 2.56
  • Share Dilution 0.2%
  • Net Margin Trend 9.2% vs 9.2%
  • Piotroski F-Score 6/9

Fallido (6)

  • P/FCF 36.73
  • P/B Ratio 5.08
  • CapEx intensity
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)

No disponible (2)

  • Dividend Payout NaN%
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-Score

6/9

Señales mixtas: algunas áreas requieren atención

score
criteria

Calidad de los Beneficios

2.56

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

0.2%

El número de acciones es estable

Gobernanza

Equipo Directivo

NombreCargoEdad
Mr. David W. ReederCEO, President & Director50
Mr. Joseph Colella J.D.Senior VP, General Counsel, Chief Compliance Officer & Secretary43
Ms. Susan RiceSenior Vice President of Global Human Resources & Corporate Communications66
Mr. Sukhi NageshSenior VP & CFO-
Mr. Michael D. SauerVP, Controller & Chief Accounting Officer59
Mr. Jeffrey Michael SchnellVice President of Investor Relations-
Mr. Clinton M. HarisSenior VP & President of Advanced Purity Solutions53
Mr. Olivier BlachierSenior VP, Chief Innovation Officer & President of Materials Solutions51
Mr. Michael BesnardSenior VP & Chief Commercial Officer54
Mr. Brad ClaySenior Vice President of Global Supply Chain-

Riesgo de Auditoría

2

Riesgo del Consejo

3

Riesgo de Compensación

5

Riesgo de Derechos del Accionista

1

Parte 2 · El precio y el momento de entrar

Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.

Latest News

Recent headlines for ENTG, sourced from Markets Gazette.

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